EU President: Obama spendfest is the "Way to Hell" - W.C. Varones

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3.25.2009

EU President: Obama spendfest is the "Way to Hell"

Wait a minute, weren't the Euros swooning over Obama just two months ago?

E.U. President Calls U.S. Stimulus ‘Way to Hell’:
Czech Republic Prime Minister Mirek Topolanek called the U.S. recovery plan "a way to hell," CNN is reporting.

Topolanek may have reason to be bitter: his government collapsed yesterday after an embarrassing vote of no-confidence. The Czech Republic currently holds the rotating office of the presidency of the European Union, but Topolanek's comments significantly break ranks with the rest of Europe.

Topolanek said the Obama administration is following the same mistakes made by FDR that lengthened and worsened the Great Depression -- a view held by some U.S. free-marketers and political conservatives.

The Czech p.m. said he is "quite alarmed" at Treasury Secretary Tim Geithner's toxic asset plan.

"He talks about a large stimulus campaign by Americans," Topolanek said. "All of these steps, their combination and their permanency, is a way to hell."

Maybe they are just bitter that he beat them to the printing presses in the global game of competitive devaluation. No matter, they'll join him soon.

Sing it, boys!

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